Gas prices trading low – DMR

UK gas prices have been trading low this morning following news that Donald Trump has been elected as the next President of the US. However Brent prices, which fell overnight, […]

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By Jacqueline Echevarria

UK gas prices have been trading low this morning following news that Donald Trump has been elected as the next President of the US.

However Brent prices, which fell overnight, have slightly recovered as the announcement has seen a softer dollar, according to npower’s daily market report.

Despite this, some volatility is expected as the market absorbs the news, said Rodney Johnson from the Optimisation Desk.

The UK gas system is expected to close 12mcm long due to increased flows into the country through the UK Interconnector.

Mr Johnson added: “Temperatures are milder than yesterday although still 3°C below seasonal normal levels.”

 

There is one LNG tanker expected to dock at Isle of Grain tomorrow.

On the power system, demand is in line with yesterday’s levels.

Wind generation is expected to reacht 4GW while solar is expected to remain subdued during the day.

Mr Johnson added: “The French interconnector is exporting at full capacity into France right now, though there will be a full reversal from 6pm this evening. The Heysham 2-8 nuclear plant remains offline for scheduled maintenance.

“The Irish interconnector should return to service today after tripping earlier this week. UK power traded softer yesterday as French supply concerns continued to ease. Risk premium continues to drop out of the far curve too.”

The pound is valued at €1.12.